The data from the UK showed on Friday that the CBI’s Manufacturing Order Book Balance rose to -24 in February from -38 in January and surpassed the market expectation of -35.
Furthermore, the Manufacturing Output Expectations Balance jumped to -2 from -24 in January.
Commenting on the data, “manufacturing activity remains patchy but so far appears to have taken a smaller hit than in previous lockdowns,” CBI economist Alpesh Paleja said, per Reuters.
Market reaction
The British pound preserves its strength after this report and the GBP/USD pair was last seen gaining 0.2% on the day at 1.3999.
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